The author makes several really big assumptions that I would be hesitant to agree with. The first that YCombinator is able to find the best that are an almost guarantee for the top 10% success. YC has an incredible community and is backed up by a large group of well connected and knowledgeable investors, and PG has stated that it's still difficult to determine who will make it.
The second is that this type of funding cycle will only be able to thrive for only the top few funding groups. The problem is that this is completely dependent on how many smart and determined hackers there are out there. So far I have not seen a shortage of them, and this community seems to reflect that.
I see this as a good sign, and hopefully there will be more of these funds out there that realize this is a good way to find that top 10%.
But still, I hate the idea of being paired with a "strategist". Thank god they don't make you bring in one if you don't want one.
YC has only invested in software startups, to my knowledge. Certainly their focus is on startups founded by gifted programmers.
The one in Philadelphia, at least, will consider startups in the life sciences or pure sciences. They have ridiculous terms of service though:
>However, by posting, uploading, inputting, providing or submitting your Submission you are granting DreamIt Ventures, its affiliated companies and necessary sublicensees permission to use your Submission in connection with the operation of their Internet businesses including, without limitation, the rights to: copy, distribute, transmit, publicly display, publicly perform, reproduce, edit, translate and reformat your Submission; and to publish your name in connection with your Submission.
I emailed them and asked about that provision; their response determines whether or not I take them seriously. My company's also further along than they are looking for, so I would want a good valuation to do their program. I would really like to do a YC style program though, I think it would be a lot of fun.
The second is that this type of funding cycle will only be able to thrive for only the top few funding groups. The problem is that this is completely dependent on how many smart and determined hackers there are out there. So far I have not seen a shortage of them, and this community seems to reflect that.
I see this as a good sign, and hopefully there will be more of these funds out there that realize this is a good way to find that top 10%.
But still, I hate the idea of being paired with a "strategist". Thank god they don't make you bring in one if you don't want one.